Italian Post (+ 3.5% at 6.20 euro) rising markedly with data better than expected at 30.6
Excellent performance for the Italian Post following the publication data of the first half, closed the period with a net profit of 565 million euro, up 29.9% from a year earlier. Revenues jumped by 10.9% to 17.7 billion while operating profit amounted to 843 million (+ 32.1%). Equita Sim has raised the target price of the Italian Post Office to 8.6 from 8.4 euro and confirmed the buy recommendation. The results of the 2nd quarter of 2016 were higher than analysts’ expectations of Milan sim: the latter raised their 2016 profit forecasts from 602 million to 658 million euro dividend for 2016 to 2016 and from 37 to 41 cents per share.
(SF)
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